US / Americas

Lloyd’s elevates Miller to Americas CEO as Watkins exits

Lloyd’s has appointed Dawn Miller as chief commercial officer and CEO of Lloyd’s Americas, with long-time Americas lead Hank Watkins to exit the Corporation after 15 years.

Brown & Brown vice chair Jim Hays resigns from board of directors

Brown & Brown’s vice chair Jim Hays has resigned from the firm’s board of directors effective immediately, a move that was announced in a securities filing Thursday morning New York time and which confirms The Insurer’s earlier reporting.

XS Global makes life, PA and health play with Blue Signing Re acquisition

XS Global has made a play in the life, personal accident, health, unemployment, and casualty motor facultative and treaty markets after acquiring fellow Miami-based MGA Blue Signing Re.

Fleming files for stay of order to complete JRG Re acquisition by 16 April

Fleming Intermediate Holdings has filed an application for a stay of the preliminary injunction that ordered the Eric Haller-led firm to complete its previously agreed acquisition of James River Group’s JRG Re by 16 April.

Ex-Arch distribution head Lee launches start-up broker Ambition Risk Services

Former Arch Insurance distribution leader Tony Lee has launched Ambition Risk Services, a start-up broker targeting small and middle market clients along with public sector opportunities, The Insurer can reveal.

Farmers names Nationwide’s Coleman business insurance president

Farmers has appointed former Nationwide small business insurance senior vice president Eric Coleman as president of business insurance, effective 10 April.

Reinsurance market finds stability after four years of hardening

Florida’s Citizens and its broker Gallagher Re have gone out to the traditional reinsurance market this week with the submission for its newly combined personal lines account, commercial lines account and coastal account placement.

Slide secures upsized $210mn cat bond covering Florida and South Carolina storms

Slide Insurance has finalised pricing for a $210mn Purple Re Ltd (Series 2024-1) catastrophe bond, which the Florida carrier said provides 40 percent more in fully collateralised reinsurance than its initial target of $150mn.

Slice’s PHLY-backed E&S contractors’ GL program now in 47 states and DC

Slice Labs Inc’s E&S contractors’ general liability small business-focused program has broadened its reach to a further seven states and Washington DC, with the Philadelphia Insurance capacity-backed coverage now offered across the US bar Kentucky, Louisiana and New York.

Fleming appeals NY court decision ordering it to complete JRG Re acquisition

Fleming Intermediate Holdings has appealed against a New York judge’s decision ordering it to complete its previously agreed acquisition of JRG Re within 10 days, with the Eric Haller-led firm claiming the court’s decision “upends the status quo”.

GeoVera’s Forney: Bifurcation deal with SageSure and SafePort is “win-win-win-win”

The move to sell GeoVera’s underwriting business to SageSure and combine its carrier operations with SafePort is a “win-win-win-win” transaction, CEO John Forney has said, while his counterpart Terry McLean noted it will add deep quake expertise to the MGA he runs, and create synergies around capital and reinsurance.

Alliant acquires California public entity broker Vinsa

Alliant Insurance Services has acquired Vinsa Insurance Associates, which is based in Lancaster, California and has a focus on serving public entity organisations.

Risk Strategies adds Cincinnati’s Newman as west region private client services leader

US retail broker Risk Strategies has hired Bryan Newman from Cincinnati Insurance as private client services leader for the west region.

AIG defeats $50mn bad faith lawsuit in New Mexico

A New Mexico county court jury has ruled in favour of AIG in a bad faith lawsuit claiming the insurer should pay nearly $50mn related to a wrongful death judgment, marking a notable win for an insurer in the state following recent large verdicts in similar lawsuits.

WTW MGU platform Verita names Barry and Adolph to senior claims roles

WTW’s start-up MGU platform Verita has appointed another two former senior Sompo International staff to prominent positions, with William Barry named chief claim manager and Chris Adolph head of property claims.

Fitch: US D&O UW improvement “likely unsustainable” after 60% 2023 loss/DCC ratio

The US D&O liability insurance sector’s favourable statutory underwriting performance in 2023 is likely to prove unsustainable owing to declining premium revenues from lower rates and the segment’s inherent volatility, Fitch Ratings has commented.

GeoVera separates MGA and carrier in deal with SageSure and SafePort as Flexpoint Ford exits

Fast-growing cat specialist SageSure has agreed a deal to buy the MGA business of GeoVera Insurance Holdings as part of a bifurcation transaction that also sees carrier partner SafePort Insurance Company merge into GeoVera’s carrier operations, The Insurer can reveal.

Boeing pays Alaska Airlines ~$160mn in initial compensation over January grounding

Boeing has paid Alaska Airlines initial compensation of ~$160mn for lost first quarter profits as a result of January’s temporary grounding of 737 Max 9 jets.

Citizens bullish on global reinsurance and capital markets for record $5.5bn risk transfer

Florida’s Citizens Property Insurance Corporation is approaching with optimism its key 1 June reinsurance renewal that could see it transfer up to $5.5bn of risk, in an environment where it said rates are projected to be in the flat to -5 percent range depending on the cedant.

World acquires NJ-based JBL Trinity Group

World Insurance Associates has acquired the business of Atlantic Highlands, New Jersey-based JBL Trinity Group (JBL).

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